Baker Hughes Incorporated (NYSE:BHI) Receives Upgrade From Seaport Global. Will Other Analysts Follow Suit?


Baker Hughes Incorporated (NYSE:BHI) Stock Upgrade

The previous rating of a “Accumulate” for Baker Hughes Incorporated (NYSE:BHI) has been discontinued as Seaport Global increased BHI’s current rating to a respectable “Speculative Buy”.

From a total of 24 analysts covering Baker Hughes Incorporated (NYSE:BHI) stock, 24 rate it a ”Buy”, 1 a “Sell”, and 7 a ”Hold”. This means that 75% of the ratings are positive. The highest target price is $83 while the lowest target price is $56. The mean of all analyst targets is $67.87 with a 28.63% above today’s ($53.19) stock price. Baker Hughes Incorporated was the topic of 15 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Argus Research upgraded shares on October 22 to “Buy” rating. Citigroup maintained BHI stock in a recent report from October 5 with “Buy” rating. Finally, Iberia Capital Partners upgraded the stock to “Conviction List” rating in a report issued on an August 26.

Approximately 1.97 million shares of stock traded hands. Baker Hughes Incorporated (NYSE:BHI) has declined 21.34% since April 30, 2015 and is downtrending. It has underperformed by 21.05% the S&P500.

Baker Hughes Incorporated is engaged in the oilfield services industry. The company has a market cap of $23.68 billion. The Firm is a supplier of oilfield services, products, technology and systems to the around the world oil and natural gas industry. It currently has negative earnings. The Firm also provides industrial services and products to the downstream chemicals, and process and pipeline services.

According to Zacks Investment Research, “Baker Hughes Inc. is engaged in the oilfield and process industries. In addition, the company manufactures and sells other products and provides services to industries that are not related to the oilfield or continuous process industries. The company conducts certain of its operations through joint ventures, partnerships or alliances.” Get a free copy of the Zacks research report on Baker Hughes Incorporated (BHI).